Real estate news today: HCMC approves conversion of 9.5 ha of agricultural land; waterfront project may add a 108-storey tower; transaction volume drops sharply; multiple project and planning updates
Amid signs of diversification in demand and transaction flows, the real estate market continues to see notable updates regarding legal status, planning and project execution. In Ho Chi Minh City, the city allows R&L Group Joint Stock Company to convert more than 9.5 ha of agricultural land into a residential development project, An Hoa Ecological Residential Area, in Long Dien Commune. Meanwhile, another eco-tourism urban area in Vinh Thanh and Dong Anh communes is reported to potentially add a 108-storey tower, comparable in scale to towers planned in BRG and Sumitomo projects. On the planning side, HCMC is also mentioned for approving an urban area for social housing with a planned implementation area of nearly 192 ha and an estimated population of 67,465. In Hanoi, the city’s plan to look up the land-recovery project categories is highlighted, covering nearly 4,000 projects through to 2030. Regarding policy direction and pricing, the information focuses on transparency and ris...